HOUSTON, Texas--(BUSINESS WIRE)--Planet Resource Recovery, Inc. (PINK SHEETS: PRRY), developer, manufacturer and marketer of the PetroLuxus™ family of products, is pleased to announce that it has received its first orders for PetroLuxus™ MMMF from its recently launched Enhanced Oil Recovery (EOR) Program. The first orders are valued at $46,150.00 and will treat fifteen marginal wells in Kansas and Oklahoma. Treatment of the identified wells is scheduled to commence in the next two weeks.
After positive first phase results from the treatment of marginal wells with PetroLuxus™ MMMF in Central Texas, Planet Resource Recovery created an Enhanced Oil Recovery Program for the deployment of PetroLuxus™ MMMF in different oil producing regions in the United States. The goal of the program is the deployment of PetroLuxus™ MMMF in various geological formations, well depths and types of crude with the aim of gathering data to validate the effectiveness of PetroLuxus™ MMMF for the EOR market.
Planet Resource Recovery in currently in negotiations with numerous lease operators for the treatment of their marginal wells in various geological regions in the U.S. For lease operators/producers interested in being considered for Planet Resource Recovery’s Enhanced Oil Recovery Program, please follow the link below and complete the informational request form - http://www.planetresource.net/index-dpq-sht.html
For every barrel of crude oil produced in the United States, two barrels of oil are left in the ground due the cohesion and adhesion of oil to formation structures. Technologies to increase extraction of oil held in place are known as the Enhanced Oil Recovery (EOR) industry. The EOR industry aims to increase extraction in marginal wells where oil production has slowed to 15 barrels a day or less. According to The Office of Fossil Energy, "There are nearly 500,000 of these wells in the US, and together they produce about the same amount of oil as America imports from Saudi Arabia."
PetroLuxus™ MMMF is specifically blended for the EOR industry. A PetroLuxus™ MMMF treatment in a down hole application eliminates the interfacial surface tension between oil and all matter it contacts including sand, clay, rock, shale, etc. The elimination of surface tension permits the oil to separate for economically viable extraction.
About Planet Resource Recovery, Inc
Planet Resource Recovery, Inc. is a holding company spearheaded by its Petrochemical manufacturing unit that has developed PetroLuxus(TM), a proprietary environmentally-friendly chemical compound that dislodges oil in practically all natural and man-made environments. The PetroLuxus(TM) family of products is an effective and efficient solution for the remediation and recovery of petroleum-based products. PetroLuxus(TM) applications include Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm cleaning, marine ship cleaning, remediation of oil sludge pits, treatment of raw fuel feedstocks, waste oil segregation and biodiesel, to name a few.
Through the acquisition and formation of wholly-owned subsidiaries, Planet Resource Recovery, Inc. deploys the PetroLuxus products. RADA Technologies, Inc. engineers new mechanical processing equipment proprietary to PetroLuxus products while simultaneously providing fuel inventory management services reducing loss to increase gain for its customers. Oil Recovery Ventures, Inc. deploys PetroLuxus(TM) through joint ventures in the Enhanced Oil Recovery market.
For an audio/visual demonstration of PetroLuxus™, click on the link below. http://www.planetresource.net/test76u31b.htm
"Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.